Foundation Building Materials

Doherty Houston Industrial Group is pleased to exclusively offer for sale this Foundation Building Materials located in Wake Forest, North Carolina, a suburb of Raleigh. The subject property is a 33,750-square-foot facility sitting on 3.68 acres, located just off Burlington Mills Road on Finger Lakes Drive. The facility was a build-to-suit for the tenant in 2020 and features steel frame and metal construction with four drive-in doors, and two driveways to enter the property.

Foundation Building Materials has occupied this property since June 2020. There are over four years remaining on a Triple Net (NNN) lease with three, five-year options to renew. The current lease enjoys a 3 percent rent increase beginning June 2024, and 2 percent annual increases thereafter. The renewal options include 2 percent annual increases as well. Landlord is responsible for roof and structure and HVAC replacement only. Tenant is responsible for all other repairs and maintenance.

Wake Forest is part of the Research Triangle Region located in central North Carolina and minutes from Raleigh, the state capital. Home to over 50,000 residents and a growing business base, Wake Forest stands as a vibrant community in one of the nation’s fastest-growing regions.

The Raleigh-Durham-Chapel Hill metro is located in the north-central portion of North Carolina, where the North American Piedmont and Atlantic Coastal Plain regions join. The market is approximately a two-hour drive west of the Atlantic Ocean, and a four-hour commute east of the Appalachian Mountains. The most highly populated is Wake County, with more than 1.1 million residents, which is almost half of the entire metro population. Raleigh, home to the state capitol, has over 470,000 citizens, which leads the region.

Foundation Building Materials (FBM®) is a leading construction materials distributor focused on exceeding the expectations of the commercial construction and residential trades. With over 270 locations across the United States and Canada, FBM has significant geographic reach into most major building materials markets. FBM specializes in the local supply of building materials such as drywall, steel studs, lath, plaster, stucco, acoustical ceilings, insulation, fiberglass reinforced panels (FRP), and exterior insulation finish systems (EIFS). Additionally, FBM offers a wide variety of commercial-grade construction tools, drywall hand tools, fasteners, and construction supplies for residential and commercial projects.